Investors operating in the financial market of the West African Monetary Union (WAMU) have strongly tendered to the auction issue of 28-day assimilable treasury bills (BAT) called Bons Social Covid-19 with a coverage rate of the amount put up for auction of 563.33%, announced the UMOA-Titres Agency, organizing the operation.
While the State of Côte d’Ivoire, through its public treasury, requested only 110 billion FCFA, the Agence UMOA-Titres listed at the end of the auction operation 619.660 billion FCFA in global bids. The largest amounts come from the Ivory Coast (209 billion), Burkina (105 billion) and Mali (105 billion).
But, for cost reasons, the issuer only withheld the amount put out to tender and rejected the remaining 509.660 billion FCFA, ie an absorption rate of 17.75%. The largest amounts retained come from Mali (45 billion), the Ivory Coast (28 billion) and Togo (27 billion).
The weighted average yield was 2.07%. As for the weighted average rate, it stood at 2.06% compared to 2.14% for the marginal rate. This issuance of COVID-19 Vouchers allows the Ivorian authorities to mobilize the savings of natural and legal persons in order to cover the cash flow gaps created by the fight against the pandemic and its consequences.
The issuer has undertaken to repay the capital on the first working day following the due date set on January 4, 2021. As for the interest, it is payable in advance and deducted from the nominal value of the warrants on the basis of a rate less than or equal to 3%.
